Peter Smith
⬤ Dogecoin continues to struggle within a bearish structure, with the price getting rejected at a key resistance level. The chart shows DOGE trading below a clear horizontal resistance line, unable to generate any real follow-through on bounce attempts. Recent candles reflect ongoing weakness, and it's obvious buyers haven't stepped back in yet.
⬤ Beyond the technicals, broader regulatory uncertainty is adding pressure to the crypto market. Policymakers are floating proposals for tighter tax rules—including higher rates on short-term gains and stricter reporting requirements. These changes could hit retail traders hard, potentially driving smaller players out of the market and pushing developers toward more crypto-friendly jurisdictions.
⬤ The rejection at resistance keeps the bearish setup alive. Lower highs, downward-sloping moving averages, and weak volume all point to continued downside risk. DOGE has stabilized after its recent drop, but failing to reclaim resistance shows that confidence is still shaky—and another leg down remains on the table.
⬤ For traders, the key level is clear: reclaiming resistance would break the pattern of lower highs and could flip momentum bullish. Until that happens, though, DOGE is stuck in bearish territory—both technically and fundamentally. With tax debates heating up and liquidity still fragile, most investors are staying cautious and waiting to see if Dogecoin can finally break through.
Peter Smith
